THE CENTRAL BANK SETTLES THE DOLLAR ORDER FOR THE COMING YEARS

[Mary B]

Governor of the Central Bank meets the French Development Agency

 2021/04/13

Baghdad / Al-Mawred News
 , His Excellency the Governor of the Central Bank, Mr. Mustafa Ghaleb Makhaif, met with a delegation from the French Development Agency (AFD), and the two parties discussed ways of joint cooperation. 
The governor assured the delegation of "the importance of international technical support to implement the financial and economic reforms presented in the white paper," suggesting that a meeting be held between the French Development Agency and the private banking sector to define the area of joint cooperation.
For its part, the French Development Agency expressed "its desire to establish a branch in Iraq to increase cooperation, as well as to provide loans for service and productive projects of the Iraqi government, and to provide funding for the public and private sectors."
It is reported that the French Development Agency (AFD) is a public institution for development financing that works to combat poverty and promote economic growth in developing countries.

 

https://almawrid.news/contents/view/details?id=30241

[Mary B]

Al-Kazemi: We have succeeded in increasing the reserves of the Central Bank, and there are campaigns to prevent price manipulation

 Political

 

•  Today, 14:24

+ A -A

Baghdad - INA
Prime Minister Mustafa Al-Kazemi announced today, Tuesday, campaigns to prevent manipulation of commodity prices, while noting that the government had succeeded in increasing the reserves of the Central Bank.
"We congratulate the Iraqi people on the occasion of the blessed month of Ramadan, the month of goodness, love and tolerance," Al-Kazemi said in a speech during the cabinet session and according to a statement from his media office, which is one of our priorities and on all Ministers make more efforts to provide for these needs. "
He added, "We came to serve the citizens and overcome the challenges the country is going through, not for a political goal," noting that "the government has areas in which it has succeeded and other areas that need follow-up and increased work."
Al-Kazemi renewed the directive to "the Ministry of Trade to work continuously to provide more foodstuffs in the ration card and to exert its utmost efforts," pointing out that "the increase in commodity prices is mostly linked to the greed of some merchants, and we have campaigns to prevent this price manipulation."
He stressed that "the government succeeded in increasing the central bank’s reserves of dollars after the reform measures it had taken."

 

https://www.ina.iq/123624--.html

[Mary B]

3 hours ago, rvmydinar said:

From august 1990 to march 1991 is about 7 months. So it takes approximately only 7 months ( a quick progress in a short time to make a stronger currency ) for kuwait to rv their kuwaiti dinar from 5 cents to 3.47 usd and this is 69.4 times increase. Wouw, that was incredible quick rv in less than 1 year, wasn"t it folks. Let's compare to iraq. From 2003 until 2021, the rate went down from 1190 to 1450 for almost 18 years. Why? May be iraq prefer make a very very very quick progress to corrupt and devalue the currency in almost 18 years. 

with all of our news hounds why didn't we buy Kuwaiti dinar

[JonnyV]

9 minutes ago, Mary B said:

with all of our news hounds why didn't we buy Kuwaiti dinar

 

The internet was not invented yet or at least in use for the public to use.   

[Mary B]

4 hours ago, screwball said:

Shouldn’t there be imf reference that supports this?

fund this

IMF urges Kuwait not to revalue dinar

Dubai, May 13, 2007

 

The International Monetary Fund urged Kuwait to resist market pressure to revalue the dinar currency.

The IMF said saying any change to Kuwait’s dollar-peg risked undermining confidence in a stable exchange rate.

Speculators betting on a dinar appreciation piled pressure on the exchange rate earlier this year, forcing the oil exporter's central bank to cut several interest rates in April.

Although the pressure has eased, the bank cut its repurchase rate for the second time in six weeks on Sunday.

 'The gains from revaluation will be very small. The cost you incur is that you lose the perception of currency stability,' Mohsin Khan, director of the IMF's Middle East and Central Asia department, said.

'At this point we say 'remain with the peg'. Inflation is not coming from the depreciation of the dollar. What's driving inflation in all the Gulf countries is large amounts of liquidity in the system, government spending and capacity constraints,' he said. Reuters

 

http://www.tradearabia.com/news/ECO_123553.html

[rvmydinar]

1 hour ago, coorslite21 said:

1.) If you look at 3 countries where the US has been active in controlling regimes....Iraq....Viet Nam....and Iran.....you will find currencies that have been artificially suppressed.

 

2.) The "faith" for the IQD in Iraq is more dependent on how the world views them.....inner country governmental corruption playing a major factor in that worlds faith or trust for the future of Iraq...

 

3.) if you hold 1 million IQD in Warka Bank.....(and that's a story in itself)....and there is a 1 Buck "RV"........so now you have the equivalent of $1 million USD in a Iraqi bank....you now have a an option to leave it there and make 8%....... or pull it out and make 2% else where....

What's your faith level in Iraq?

1.) So iraq, vietnam and iran's currencies have the same chances to rv their currencies. We just don't know when and what rate they are going to rv. 

 

2.) So you were saying that if there is still a corruption in the currency auction, the iqd will never rv and we are just wasting our time here then.

 

3.) You said that if i hold 1 million iqd in warka bank and rv at 1:1, then i have 1 million usd in warka bank. Then, of course , i prefer leave it in warka bank because i can earn 8% interest ( better than only 2% interest a year ) a year. Now, Questions come to mind:

A.) do you think is it safe as foreigners ( us citizens )/ iqd investors to put 1 million usd while earning 8% interest in warka bank because there is no fdic insured if the money is gone in the warka bank because someone else (?) Steal it?

B.) You said if i hold 1 million iqd in warka bank and rv at 1 buck, then i have 1 million usd in warka bank, don't you think this is referring to in-country rv? Do you believe this is going to be in-country rv? I thought everyone will exchange dinars for dollar in the us ( out of iraq country ) when it rv one day.

[rvmydinar]

I thought there will never be any in-country rv. Who still believe the iqd is going to be in-country rv?

[coorslite21]

14 minutes ago, rvmydinar said:

1.) So iraq, vietnam and iran's currencies have the same chances to rv their currencies. We just don't know when and what rate they are going to rv. 

 

2.) So you were saying that if there is still a corruption in the currency auction, the iqd will never rv and we are just wasting our time here then.

 

3.) You said that if i hold 1 million iqd in warka bank and rv at 1:1, then i have 1 million usd in warka bank. Then, of course , i prefer leave it in warka bank because i can earn 8% interest ( better than only 2% interest a year ) a year. Now, Questions come to mind:

A.) do you think is it safe as foreigners ( us citizens )/ iqd investors to put 1 million usd while earning 8% interest in warka bank because there is no fdic insured if the money is gone in the warka bank because someone else (?) Steal it?

B.) You said if i hold 1 million iqd in warka bank and rv at 1 buck, then i have 1 million usd in warka bank, don't you think this is referring to in-country rv? Do you believe this is going to be in-country rv? I thought everyone will exchange dinars for dollar in the us ( out of iraq country ) when it rv one day.

1.  All 3 countries could support a higher rate....

 

2. Never said never.....how does the world view stability/corruption in Iraq?

 

3. Not talking in country vs out of country.....contract rates or tiers......the rate will be consistent everywhere in the same time frame....all that other talk is guru BS.

 

The question is to you.....would you be comfortable holding the equivalent of $1 million USD in a Iraqi bank?.....my answer would be no......not even at 300% interest....

CL

[NextYear]

I wonder how many people are going to read that throw their hands up and dump all their Dinar?

"All too easy" - Iraq

Edited April 13, 2021 by NextYear

[rvmydinar]

42 minutes ago, Mary B said:

fund this

IMF urges Kuwait not to revalue dinar

Dubai, May 13, 2007

 

The International Monetary Fund urged Kuwait to resist market pressure to revalue the dinar currency.

The IMF said saying any change to Kuwait’s dollar-peg risked undermining confidence in a stable exchange rate.

Speculators betting on a dinar appreciation piled pressure on the exchange rate earlier this year, forcing the oil exporter's central bank to cut several interest rates in April.

Although the pressure has eased, the bank cut its repurchase rate for the second time in six weeks on Sunday.

 'The gains from revaluation will be very small. The cost you incur is that you lose the perception of currency stability,' Mohsin Khan, director of the IMF's Middle East and Central Asia department, said.

'At this point we say 'remain with the peg'. Inflation is not coming from the depreciation of the dollar. What's driving inflation in all the Gulf countries is large amounts of liquidity in the system, government spending and capacity constraints,' he said. Reuters

 

http://www.tradearabia.com/news/ECO_123553.html

The date of this article " imf urges kuwait not to revalue dinar " was on may 13, 2007. And the kuwaiti dinars that dropped to 5 cents was happening in august 1990 ( 2007 - 1990= 17 years ago ) that was 17 years ago. And, the kuwaiti dinars that revalued their currency at 3.47 usd was happening in february 1991 ( 2007 - 1991=16 years ago ) that was 16 years ago. That means the kuwaiti dinars already dropped and revalued their currency 16 years ago before this article came out on may 13, 2007.

[rvmydinar]

1 hour ago, Mary B said:

with all of our news hounds why didn't we buy Kuwaiti dinar

I didn't know the kuwaiti dinar revalued back in 1991 because noone told me to buy the kuwaiti dinar back in 1990. That's why, i regretted i didn't buy the kuwaiti dinars at that time. I just knew about kuwaiti dinar when i joined the dinarvets. I think there might be some member here who knew and bought kuwaiti dinar back in 1990 when the kuwaiti dinar dropped to 5 cents. Who knows.

[rvmydinar]

1 hour ago, JonnyV said:

 

The internet was not invented yet or at least in use for the public to use.   

You might be right.

[DoD]

45 minutes ago, rvmydinar said:

 

3.) You said that if i hold 1 million iqd in warka bank and rv at 1:1, then i have 1 million usd in warka bank. Then, of course , i prefer leave it in warka bank because i can earn 8% interest ( better than only 2% interest a year ) a year. Now, Questions come to mind:

A.) do you think is it safe as foreigners ( us citizens )/ iqd investors to put 1 million usd while earning 8% interest in warka bank because there is no fdic insured if the money is gone in the warka bank because someone else (?) Steal it?

B.) You said if i hold 1 million iqd in warka bank and rv at 1 buck, then i have 1 million usd in warka bank, don't you think this is referring to in-country rv? Do you believe this is going to be in-country rv? I thought everyone will exchange dinars for dollar in the us ( out of iraq country ) when it rv one day.

I can help you out a little bit here with your questions.

1) First its obvious you don't have an Warka Bank account or you would know that they do not pay 8% interest...

2) Stay out of the rumor section, no such thing as an in-country RV...

3) Yes my 1 million in my Dinar account at Warka Bank would be worth 1 million USD if the CBI changed the rate to 1 to 1. 

[rvmydinar]

36 minutes ago, coorslite21 said:

1.  All 3 countries could support system" rel="">support a higher rate....

 

The question is to you.....would you be comfortable holding the equivalent of $1 million USD in a Iraqi bank?.....my answer would be no......not even at 300% interest....

CL

Since you said iraq, iran and vietnam could support a higher rate, then i will buy iranial rial and vietnamese dong after, hopefully the iqd rv first at 3.22 usd because i only own iqd right now.

And, since it isn't fdic insured and someone else (?) Can steal my million dollar at anytime, then i would not be holding 1 million dollar in iraqi bank no matter how high the interest rate would be. If i remember correctly, there are some members here that sent their monies over to warka bank in iraq and i don't know if their monies are safe or not in warka bank.

[rvmydinar]

36 minutes ago, DoD said:

3) Yes my 1 million in my Dinar account at Warka Bank would be worth 1 million USD if the CBI changed the rate to 1 to 1. 

If that isn't called in-country rv, then what do you call that? The same goes to iraqi citizens who hold and hide their hundred million iqd under their mattress. When it rv at 1:1, the iraqi citizens will also run to the bank and exchange dinars for dollar. Is this why iraq has big reserves to cover for the in-country rv only?

[Mary B]

34 minutes ago, rvmydinar said:

If that isn't called in-country rv, then what do you call that? The same goes to iraqi citizens who hold and hide their hundred million iqd under their mattress. When it rv at 1:1, the iraqi citizens will also run to the bank and exchange dinars for dollar. Is this why iraq has big reserves to cover for the in-country rv only?

why would the bank give you more money than you had in your account, wouldn't it make sense to give you exactly what you had

[keylime]

1 hour ago, rvmydinar said:

The date of this article " imf urges kuwait not to revalue dinar " was on may 13, 2007. And the kuwaiti dinars that dropped to 5 cents was happening in august 1990 ( 2007 - 1990= 17 years ago ) that was 17 years ago. And, the kuwaiti dinars that revalued their currency at 3.47 usd was happening in february 1991 ( 2007 - 1991=16 years ago ) that was 16 years ago. That means the kuwaiti dinars already dropped and revalued their currency 16 years ago before this article came out on may 13, 2007.

Maybe that's why Kuwait didn't listen to them. 

[rvmydinar]

25 minutes ago, Mary B said:

why would the bank give you more money than you had in your account, wouldn't it make sense to give you exactly what you had

Actually, if i remember correctly, one of the members here told me that the iraqi citizens can only exchange old dinars for new lower denoms only in the country of iraq. That means there will only be old dinars for new lower denoms exchange in the country of iraq. If iraq citizens or dinar investors want to exchange dinars for dollars, they have to exchange dinars for dollars out of iraq country. I think that same goes to dinar investors who have account in warka bank and They can only exchange old dinars with new lower denoms , not dinars for dollars.

[DoD]

1 hour ago, rvmydinar said:

If that isn't called in-country rv, then what do you call that? The same goes to iraqi citizens who hold and hide their hundred million iqd under their mattress. When it rv at 1:1, the iraqi citizens will also run to the bank and exchange dinars for dollar. Is this why iraq has big reserves to cover for the in-country rv only?

I don't know how long you've been in this circus but reading your post I will assume your pretty new. 

Question for you - why in the name of Allah would an Iraqi run to the bank to exchange his Dinar for a currency that is equal to or less than the currency he holds? 

Here's a couple of thoughts for you, remember what I told you Google is your friend.

When or if the CBI ever reinstates or revalues the Dinar it will RV world wide "Not just IN-Country"...

[rvmydinar]

32 minutes ago, keylime said:

Maybe that's why Kuwait didn't listen to them. 

That means the kuwaiti dinar did really revalue back in 1991 right folks.

[rvmydinar]

4 minutes ago, DoD said:

Question for you - why in the name of Allah would an Iraqi run to the bank to exchange his Dinar for a currency that is equal to or less than the currency he holds? 

You are right. Thanks for your clarification. I have never thought about that. That's why iraqi citizens will only exchange old dinars for new lower denoms when the rv comes.

[Laid Back]

What’s interesting to me is the overwhelming amount of articles saying the exchange rate will stay at 1450 for the next few years.

 

I know many people in the dinar community would like to see the same amount of articles saying, we will revalue the dinar at $1:1 with the dollar.

 

We are in the best position ever.... keep calm and relax.

 

They are working, not as fast as we like to but we can see progress in all areas of the economy.

 

The question is; how are they going to give purchasing power to their people?

 

Go RV

Go $1:1

[3n1]

2 hours ago, rvmydinar said:

When it rv at 1:1, the iraqi citizens will also run to the bank and exchange dinars for dollar

 

if the iqd has more value than usd why would a iraqi exchange for something less valuable .... its all speculation till something happens to know how the cbi will handle it all ....

[Karsten]

31 minutes ago, 3n1 said:

 

if the iqd has more value than usd why would a iraqi exchange for something less valuable .... its all speculation till something happens to know how the cbi will handle it all ....

 

i will take a shot at this as I understand it.

 

In Iraq they will need to due away with any and all Multi Currency Usage So a Dinar will remain a Dinar at what ever value it has In Country with a higher In Country Value.

 

Outside of Iraq the Exchange rate of the IQD will Vary according to that Value of that countries Currency say for Simple explanation.....#'s just off the top of my head

 

USA with the USD $3.50 per IQD

UK with the British Pound 2.25 Pounds to the IQD

Iran would be somewhere around .4 cents to the IQS due to the already lesser Value

So each country would have there IQD Exchanged at what ever the Exchange Rate was at it That Country

 

Not everyone is going to be Exchanging for USD but the Currency in Their Respective Country.

 

Hope that makes a little sense and someone please correct me if I have it wrong.

 

Karsten

 

[coorslite21]

4 hours ago, rvmydinar said:

Since you said iraq, iran and vietnam could support system" rel="">support a higher rate, then i will buy iranial rial and vietnamese dong after, hopefully the iqd rv first at 3.22 usd because i only own iqd right now.

And, since it isn't fdic insured and someone else (?) Can steal my million dollar at anytime, then i would not be holding 1 million dollar in iraqi bank no matter how high the interest rate would be. If i remember correctly, there are some members here that sent their monies over to warka bank in iraq and i don't know if their monies are safe or not in warka bank.

You purchase what ever you wish......just like your IQD.....remember, it is a speculative investment....😮

CL